S&P (e-mini) 20th March 09 recap

"The S&P has reached its rotation point and stalled around the March 50% level:- resistance.

At this stage these upper levels are resistance, and ideally I would like to see both markets come down into next Week's 50% levels.

The US markets will move back to their 5-day lows, but hopefully that can be set up with Friday moving higher from support and then short trading a higher Weekly & Daily open next week & back down into the 5-day lows & Weekly 50% level"

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S&P Weekly and 5-day pattern

US markets are reversing down from their March 50% levels.

There was early support on the S&P on Friday pushing upwards, but then reversed down taking out support.

Ideally I would have preferred Friday to have closed higher and then set-up a robust short-trade early next week back down into the 5-day lows and Weekly 50% level.




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